How D. Trump’s Taxes Would Have Been Used?

[Campbell]

Economic policy of Bill Clinton - Wikipedia, the free encyclopedia

"President Clinton oversaw a period of considerable economic growth and expansion during his tenure. In particular, real GDP per capita increased from about $38,000 in 1994 to about $45,000 in 2001 (in real 2011 dollars).[1] The U.S. national debt as a percent of GDP also declined from about 66% to about 56% during Clinton's government.[2]"

[Congressional Bills 106th Congress]
[From the U.S. Government Printing Office]
[H. Res. 490 Introduced in House (IH)]


106th CONGRESS
2d Session
H. RES. 490

To ensure that the fiscal year 2000 on-budget surplus is used to reduce
publicly-held debt and provide tax relief to American taxpayers.

Didn't last long though....along came George W. Bush and gave two tax cuts to his wealthy oil buds, 2001 and 2003. That's why I left the Republican party. They became the party of nothing but tax cuts for the wealthy, running up the national debt and an occasional war.

As a middle class wage earner, I really enjoyed spending the extra income I got from the Bush tax cuts. There are actually some dumb asses that say only the 'wealthy' got Bush tax cuts. And they prove their ignorance by using the word wealthy when income is taxed, not wealth. Everyone that earned enough to pay taxes got a tax cut.

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

Wrong. O has increased the debt more than all presidents combined.

Probably.......he's paid nearly three trillion dollars in interest on the Reagan/Bushes debt. You didn't think foreign banks were giving us that money did you?

 

[TooTall]

ROFLLMAO @ Clinton surplus...omg that is so yesterday and has been debunked so many times

Economic policy of Bill Clinton - Wikipedia, the free encyclopedia

"President Clinton oversaw a period of considerable economic growth and expansion during his tenure. In particular, real GDP per capita increased from about $38,000 in 1994 to about $45,000 in 2001 (in real 2011 dollars).[1] The U.S. national debt as a percent of GDP also declined from about 66% to about 56% during Clinton's government.[2]"

[Congressional Bills 106th Congress]
[From the U.S. Government Printing Office]
[H. Res. 490 Introduced in House (IH)]


106th CONGRESS
2d Session
H. RES. 490

To ensure that the fiscal year 2000 on-budget surplus is used to reduce
publicly-held debt and provide tax relief to American taxpayers.

Didn't last long though....along came George W. Bush and gave two tax cuts to his wealthy oil buds, 2001 and 2003. That's why I left the Republican party. They became the party of nothing but tax cuts for the wealthy, running up the national debt and an occasional war.

As a middle class wage earner, I really enjoyed spending the extra income I got from the Bush tax cuts. There are actually some dumb asses that say only the 'wealthy' got Bush tax cuts. And they prove their ignorance by using the word wealthy when income is taxed, not wealth. Everyone that earned enough to pay taxes got a tax cut.

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

I guess you never heard the word sequestration. You might google it and learn something.

 

[easyt65]

...Barry would have used the extra money to buy more guns to run to ISIS through Benghazi or to give to Mexican Drug Cartels...

 

[Campbell]

Economic policy of Bill Clinton - Wikipedia, the free encyclopedia

"President Clinton oversaw a period of considerable economic growth and expansion during his tenure. In particular, real GDP per capita increased from about $38,000 in 1994 to about $45,000 in 2001 (in real 2011 dollars).[1] The U.S. national debt as a percent of GDP also declined from about 66% to about 56% during Clinton's government.[2]"

[Congressional Bills 106th Congress]
[From the U.S. Government Printing Office]
[H. Res. 490 Introduced in House (IH)]


106th CONGRESS
2d Session
H. RES. 490

To ensure that the fiscal year 2000 on-budget surplus is used to reduce
publicly-held debt and provide tax relief to American taxpayers.

Didn't last long though....along came George W. Bush and gave two tax cuts to his wealthy oil buds, 2001 and 2003. That's why I left the Republican party. They became the party of nothing but tax cuts for the wealthy, running up the national debt and an occasional war.

As a middle class wage earner, I really enjoyed spending the extra income I got from the Bush tax cuts. There are actually some dumb asses that say only the 'wealthy' got Bush tax cuts. And they prove their ignorance by using the word wealthy when income is taxed, not wealth. Everyone that earned enough to pay taxes got a tax cut.

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

I guess you never heard the word sequestration. You might google it and learn something.

LOL! You'd best stay away from shit you know nothing about!

 

[Yousaidwhat]

.




How D. Trump’s Taxes Would Have Been Used?
CNN's calculation is just a guesstimate at this point because unlike every presidential candidate since Tricky Dick, D. Trump is to embarrassed to make his taxes public.

Donald Trump's tax calculator
Eli Watkins and Joyce Tseng, CNN
September 29, 2016

​

Washington (CNN)
Here's a hypothetical look at where Donald Trump's taxes would have gone, assuming he paid them.

Hillary Clinton insinuated at the first presidential debate that Trump has not paid his share in taxes.

"Maybe he doesn't want the American people, all of you watching tonight, to know that he's paid nothing in federal taxes," Clinton said.

Trump jumped in briefly, saying, "That makes me smart."

The questions about his contribution to the federal coffers have emerged because he has steadfastly refused to release his tax returns. He has claimed he cannot provide them while under audit, an excuse that has tax lawyers scratching their heads. He did say he would release the returns if Clinton were to provide tens of thousands of emails deleted from her private system during her tenure as secretary of state.

<snip>

The Wall Street Journal estimated his pretax income over 19 months in 2014 and 2015 would have been $160 million, so for speculative purposes, let's use that total and assume it's all "passive income," like an owner would collect vis-à-vis rents.

Using H&R Block's tax calculator, someone with a $160 million income could owe $69,370,931 in federal taxes.

<snip>

Where would all this hypothetical tax money go if and when the government collected it?

<snip>

$19.1 million to healthcare
$16.6 million to defense
$12.6 million to "job and family security" (e.g. federal and military retirement programs, food assistance like SNAP, Temporary Assistance to Needy Families, or TANF)
$6.3 million paying down interest on the national debt
$4.1 million for veterans benefits
$3.6 million education
$1.4 million for immigration and law enforcement
$1.3 million for foreign aid and other international affairs
$1.1 million for energy and environmental considerations
$783,891 for NASA and other scientific endeavors
$672,898 for agriculture
$2.9 million for everything else, including disaster relief, community development and the milieu of other government programs

<snip>

The national debt is currently on course to reach $20 trillion.


D. Trump is just one billionaire that's hogging the money that could be used for the programs on the above list. So just where does the money come from to pay for our schools, veterans, national defense, etc? Unless you have a creative accountant like D. Trump's, you are, you and the lenders - you know, the Chinese, Japan and other foreign countries including Saudi Arabia and...


.

National debt at 20 trillion?

Seems as if our representatives should control themselves.

 

[TooTall]

As a middle class wage earner, I really enjoyed spending the extra income I got from the Bush tax cuts. There are actually some dumb asses that say only the 'wealthy' got Bush tax cuts. And they prove their ignorance by using the word wealthy when income is taxed, not wealth. Everyone that earned enough to pay taxes got a tax cut.

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

I guess you never heard the word sequestration. You might google it and learn something.

LOL! You'd best stay away from shit you know nothing about!

"The point is that the Republicans cut taxes, never cut their spending a goddam dime........"

As a middle class wage earner, I really enjoyed spending the extra income I got from the Bush tax cuts. There are actually some dumb asses that say only the 'wealthy' got Bush tax cuts. And they prove their ignorance by using the word wealthy when income is taxed, not wealth. Everyone that earned enough to pay taxes got a tax cut.

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

I guess you never heard the word sequestration. You might google it and learn something.

LOL! You'd best stay away from shit you know nothing about!

"never cut their spending a goddam dime."

This is all I have to know about sequestration.

"The budget sequestration in 2013 refers to the automatic spending cuts to United States federal government spending in particular categories of outlays."

You also need some help with you lack of math skills.

"I might point out that Reagan quadrupled the national debt...."

Reagan tripled the Gross Federal Debt, from $900 billion to $2.7 trillion.

Either you are too stupid to know that is not quadrupled or you are a liar.

 

[LordBrownTrout]

As a middle class wage earner, I really enjoyed spending the extra income I got from the Bush tax cuts. There are actually some dumb asses that say only the 'wealthy' got Bush tax cuts. And they prove their ignorance by using the word wealthy when income is taxed, not wealth. Everyone that earned enough to pay taxes got a tax cut.

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

Wrong. O has increased the debt more than all presidents combined.

Probably.......he's paid nearly three trillion dollars in interest on the Reagan/Bushes debt. You didn't think foreign banks were giving us that money did you?

No, O has not paid bush debt back. He has added to it. You do understand that the fed was gravy training wall street to the tune of 4 trillion don't you?

 

[Campbell]

Like I said.....the wealthy got enough to buy a new Mercedes each year and the average taxpayer got enough to buy a muffler for it!

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

Wrong. O has increased the debt more than all presidents combined.

Probably.......he's paid nearly three trillion dollars in interest on the Reagan/Bushes debt. You didn't think foreign banks were giving us that money did you?

No, O has not paid bush debt back. He has added to it. You do understand that the fed was gravy training wall street to the tune of 4 trillion don't you?

Here are the facts. It's the goddam Republican tax cuts for the rich with no corresponding cuts in spending:

..............................................Total U S Debt................................................

Figures Easily Verified....Taken From the Bureau of the Debt

US: $18,775,084,981,440 - Debt as of December 2015?

09/30/2014 $17,824,071,380,733.82

09/30/2013 $16,738,183,526,697.32

09/30/2012 $16,066,241,407,385.89

09/30/2011 $14,790,340,328,557.15

09/30/2010 $13,561,623,030,891.79

09/30/2009 $11,909,829,003,511.75(80% Of All Debt Across 232 Years Borrowed By Reagan And Bushes)

09/30/2008 $10,024,724,896,912.49(Times Square Debt Clock Modified To Accommodate Tens of Trillions)

09/30/2007 $9,007,653,372,262.48

09/30/2006 $8,506,973,899,215.23

09/30/2005 $7,932,709,661,723.50

09/30/2004 $7,379,052,696,330.32

09/30/2003 $6,783,231,062,743.62(Second Bush Tax Cuts Enacted Using Reconciliation)

09/30/2002 $6,228,235,965,597.16

09/30/2001 $5,807,463,412,200.06(First Bush Tax Cuts Enacted Using Reconciliation)

09/30/2000 $5,674,178,209,886.86(Administration And Congress Arguing About How To Use Surplus)

09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)

09/30/1998 $5,526,193,008,897.62

09/30/1997 $5,413,146,011,397.34

09/30/1996 $5,224,810,939,135.73

09/29/1995 $4,973,982,900,709.39

09/30/1994 $4,692,749,910,013.32 (Bill Clinton Raised Taxes On The Rich early 1993)

09/30/1993 $4,411,488,883,139.38 ( Debt Quadrupled By Reagan/Bush41)

09/30/1992 $4,064,620,655,521.66

09/30/1991 $3,665,303,351,697.03

09/28/1990 $3,233,313,451,777.25

09/29/1989 $2,857,430,960,187.32

09/30/1988 $2,602,337,712,041.16

09/30/1987 $2,350,276,890,953.00

09/30/1986 $2,125,302,616,658.42

09/30/1985 $1,823,103,000,000.00

09/30/1984 $1,572,266,000,000.00

09/30/1983 $1,377,210,000,000.00

09/30/1982 $1,142,034,000,000.00(Total Debt Passes $1 Trillion)(Reagan Slashed Tax Rates To Pre Depression Levels)

09/30/1981 $997,855,000,000.00

 

[TooTall]

Funny how the progressive tax code works. The more you make, the more you pay.

No Shit Sherlock! The point is that the Republicans cut taxes, never cut their spending a goddam dime and borrow the money they need from foreign banks. It started with Reagan and continued when Bush cut rates in 2001 and 2003. I might point out that Reagan quadrupled the national debt then Bush doubled it. Obama inherited a financial mess and in fact has spent less than any of them:

Wrong. O has increased the debt more than all presidents combined.

Probably.......he's paid nearly three trillion dollars in interest on the Reagan/Bushes debt. You didn't think foreign banks were giving us that money did you?

No, O has not paid bush debt back. He has added to it. You do understand that the fed was gravy training wall street to the tune of 4 trillion don't you?

Here are the facts. It's the goddam Republican tax cuts for the rich with no corresponding cuts in spending:

..............................................Total U S Debt................................................

Figures Easily Verified....Taken From the Bureau of the Debt

US: $18,775,084,981,440 - Debt as of December 2015?

09/30/2014 $17,824,071,380,733.82

09/30/2013 $16,738,183,526,697.32

09/30/2012 $16,066,241,407,385.89

09/30/2011 $14,790,340,328,557.15

09/30/2010 $13,561,623,030,891.79

09/30/2009 $11,909,829,003,511.75(80% Of All Debt Across 232 Years Borrowed By Reagan And Bushes)

09/30/2008 $10,024,724,896,912.49(Times Square Debt Clock Modified To Accommodate Tens of Trillions)

09/30/2007 $9,007,653,372,262.48

09/30/2006 $8,506,973,899,215.23

09/30/2005 $7,932,709,661,723.50

09/30/2004 $7,379,052,696,330.32

09/30/2003 $6,783,231,062,743.62(Second Bush Tax Cuts Enacted Using Reconciliation)

09/30/2002 $6,228,235,965,597.16

09/30/2001 $5,807,463,412,200.06(First Bush Tax Cuts Enacted Using Reconciliation)

09/30/2000 $5,674,178,209,886.86(Administration And Congress Arguing About How To Use Surplus)

09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)

09/30/1998 $5,526,193,008,897.62

09/30/1997 $5,413,146,011,397.34

09/30/1996 $5,224,810,939,135.73

09/29/1995 $4,973,982,900,709.39

09/30/1994 $4,692,749,910,013.32 (Bill Clinton Raised Taxes On The Rich early 1993)

09/30/1993 $4,411,488,883,139.38 ( Debt Quadrupled By Reagan/Bush41)

09/30/1992 $4,064,620,655,521.66

09/30/1991 $3,665,303,351,697.03

09/28/1990 $3,233,313,451,777.25

09/29/1989 $2,857,430,960,187.32

09/30/1988 $2,602,337,712,041.16

09/30/1987 $2,350,276,890,953.00

09/30/1986 $2,125,302,616,658.42

09/30/1985 $1,823,103,000,000.00

09/30/1984 $1,572,266,000,000.00

09/30/1983 $1,377,210,000,000.00

09/30/1982 $1,142,034,000,000.00(Total Debt Passes $1 Trillion)(Reagan Slashed Tax Rates To Pre Depression Levels)

09/30/1981 $997,855,000,000.00

Here is what the Bush tax cuts were all about. If they were so bad, why didn't Obama have his majority repeal them when he took office?

"President Bush and his Congressional Republican majorities at the time cut taxes for everyone in the 2001 and 2003 tax cuts. Indeed, they cut more for lower and middle income taxpayers than they did for “the rich,” as Obama calls the nation’s job creators, investors, and successful small businesses. The top tax rate was cut by only 13%, while the lowest rate was cut by one-third, 33%.

According to official IRS data, the top 1% of income earners paid $84 billion more in federal income taxes in 2007 than in 2000 before the Bush tax cuts were passed, 23% more. The share of total federal income taxes paid by the top 1% rose from 37% in 2000, before the Bush tax cuts, to 40% in 2007, after the tax cuts.

In contrast, the bottom half of income earners paid $6 billion less in federal income taxes in 2007 than in 2000, a decline of 16%. The share of federal income taxes paid by the bottom 50% declined from 3.9% in 2000 to 2.9% in 2007.

The Bush tax cuts also included a doubling of the child tax credit from $500 per child to $1,000 per child. Because of that, and the 33% cut in the bottom tax rate, nearly 8 million more people dropped off the federal income tax rolls entirely, paying zero federal income taxes. Indeed, under the Bush tax cuts, the bottom 40% of all income earners not only paid no federal income taxes, as a group on net. By 2009, they were being paidcash by the IRS equal to 10% of all federal income taxes.

These Bush tax cuts did not explode the deficit, as Obama and his echo chamber have alleged. By 2007, the deficit was down to $160 billion, less than 15% of Obama’s deficits today. Total federal revenues soared from $793.7 billion in 2003, when the last of the Bush tax cuts were enacted, to $1.16 trillion in 2007, a 47% increase. Capital gains revenues had doubled by 2005, despite the 25% capital gains rate cut adopted."